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Ellex Klavins has advised Swedish investment company Eastnine on its EUR 24.8 million acquisition of Alojas Biznesa Centrs and its EUR 4.8 million acquisition of two adjacent properties from the LNK Group. The seller was advised by Fort Legal.

According to Ellex Klavins, "the transaction is expected to close on the first quarter of 2018 and add approximately EUR 2.4 million to Eastnine's annual rental income."

The transaction is Eastine's first in Riga. According to Ellex, "the company is currently transitioning into a focused Baltic real estate company, with an aim to generate predictable cash flows as a long-term owner of attractive commercial properties in prime locations in the Baltic capitals."

The Ellex Klavins team was led by Partner Ivars Pommers and included Partners Inita Jurka and Zinta Jansons, Senior Associates Henrijs Niedra and Reinis Sokolovs, and Associates Ineta Kaņepe and Kristiana Matuzevica.